BTMC: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
BTMC
Largest movements
- Cash +€264,647
up €264,647 (+125.5%), from €210,909 to €475,556
mainly Net result for the year (+€258,754) and Depreciation (+€43,637)
- Tangible fixed assets -€43,637
down €43,637 (-3.8%), from €1.2m to €1.1m
of which Land and buildings: -€30,813
- Receivables within one year -€28,373
down €28,373 (-36.7%), from €77,276 to €48,903
of which Trade receivables: -€33,281
- Reserves +€247,088
up €247,088 (+26.6%), from €928,665 to €1.2m
- Debts after one year -€64,111
down €64,111 (-16.4%), from €390,844 to €326,733
- Accrued charges and deferred income +€19,974
up €19,974 (+404.5%), from €4,937 to €24,912
- Gross operating margin +€73,674
up €73,674 (+20.3%), from €362,964 to €436,638
- Depreciation -€71,639
down €71,639 (-62.1%), from €115,276 to €43,637
- Taxes +€49,593
up €49,593 (+71.3%), from €69,589 to €119,182
- Staff costs -€12,273
down €12,273 (-98.9%), from €12,408 to €135
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,472,544 | €1,667,848 | +€195,304 | +13.3% |
| Fixed assets | 21/28 | €1,155,453 | €1,111,816 | -€43,637 | -3.8% |
| Tangible fixed assets | 22/27 | €1,155,453 | €1,111,816 | -€43,637 | -3.8% |
| Land and buildings | 22 | €1,112,883 | €1,082,070 | -€30,813 | -2.8% |
| Plant, machinery and equipment | 23 | €1,206 | €842 | -€363 | -30.1% |
| Furniture and vehicles | 24 | €41,364 | €28,904 | -€12,460 | -30.1% |
| Current assets | 29/58 | €317,091 | €556,032 | +€238,941 | +75.4% |
| Amounts receivable within one year | 40/41 | €77,276 | €48,903 | -€28,373 | -36.7% |
| Trade receivables | 40 | €77,276 | €43,995 | -€33,281 | -43.1% |
| Other amounts receivable | 41 | - | €4,908 | +€4,908 | |
| Cash at bank and in hand | 54/58 | €210,909 | €475,556 | +€264,647 | +125.5% |
| Deferred charges and accrued income | 490/1 | €28,906 | €31,572 | +€2,666 | +9.2% |
| Total equity and liabilities | 10/49 | €1,472,544 | €1,667,848 | +€195,304 | +13.3% |
| Equity | 10/15 | €936,725 | €1,183,813 | +€247,088 | +26.4% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €928,665 | €1,175,753 | +€247,088 | +26.6% |
| Distributable reserves | 133 | €928,665 | €1,175,753 | +€247,088 | +26.6% |
| Amounts payable | 17/49 | €535,819 | €484,036 | -€51,784 | -9.7% |
| Amounts payable after more than one year | 17 | €390,844 | €326,733 | -€64,111 | -16.4% |
| Financial debts | 170/4 | €390,844 | €326,733 | -€64,111 | -16.4% |
| Amounts payable within one year | 42/48 | €140,038 | €132,391 | -€7,647 | -5.5% |
| Current portion of amounts payable after more than one year | 42 | €66,714 | €64,111 | -€2,603 | -3.9% |
| Trade debts | 44 | €29,254 | €21,896 | -€7,358 | -25.2% |
| Suppliers | 440/4 | €29,254 | €21,896 | -€7,358 | -25.2% |
| Taxes, remuneration and social security | 45 | €40,804 | €33,118 | -€7,685 | -18.8% |
| Taxes | 450/3 | €40,804 | €33,118 | -€7,685 | -18.8% |
| Other amounts payable | 47/48 | €3,266 | €13,266 | +€10,000 | +306.2% |
| Accrued charges and deferred income | 492/3 | €4,937 | €24,912 | +€19,974 | +404.5% |
| Remuneration, social security and pensions | 62 | €12,408 | €135 | -€12,273 | -98.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,276 | €43,637 | -€71,639 | -62.1% |
| Other operating charges | 640/8 | €2,509 | €3,913 | +€1,404 | +56.0% |
| Gross operating margin | 9900 | €362,964 | €436,638 | +€73,674 | +20.3% |
| Operating profit (loss) | 9901 | €232,771 | €388,953 | +€156,182 | +67.1% |
| Financial income | 75/76B | €931 | €2,132 | +€1,201 | +128.9% |
| Recurring financial income | 75 | €931 | €1,402 | +€471 | +50.6% |
| Non-recurring financial income | 76B | - | €729 | +€729 | |
| Financial charges | 65/66B | €12,827 | €13,149 | +€322 | +2.5% |
| Recurring financial charges | 65 | €12,827 | €13,149 | +€322 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €220,875 | €377,936 | +€157,061 | +71.1% |
| Income taxes | 67/77 | €69,589 | €119,182 | +€49,593 | +71.3% |
| Profit (loss) for the period | 9904 | €151,286 | €258,754 | +€107,468 | +71.0% |
| Profit (loss) for the period to be appropriated | 9905 | €151,286 | €258,754 | +€107,468 | +71.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.